Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- TikTok acquires a 75% stake in Indonesian company Tokopedia, leading to adjustments in Tokopedia’s investment portfolio.
- Tokopedia has made strategic investments in various startups, including SiCepat Ekspress, Anteraja, Sayurbox, Laku6, Carousell, and Xurya.
- The startups in Tokopedia’s investment portfolio could benefit from leveraging TikTok’s infrastructure and reach.
- Grab and GoTo Group are reportedly in talks for a merger, as they aim to compete better in Southeast Asia’s ride-hailing market.
- Teacher Retirement System of Texas commits $125 million to CVC Capital Partners Asia VI, while New York State Teachers’ Retirement System invests up to $150 million in Hahn & Company’s new fund.
- TH Capital aims to raise $100 million, LongCapital closes its third deep tech fund, and NIO Capital raises over 3 billion yuan for new energy vehicle investments.
- Navis Capital Partners expects to secure the first close of its $350 million Navis Asia Credit Fund in May 2024.
- Orient Growth Ventures closes its second fund with $90 million in commitments, while Brookfield Asset Management raises $10 billion for its Brookfield Global Transition Fund.
- The Carlyle Group secures the first close for its fifth Japan buyout fund, and Accion International raises $127.5 million for its microfinance-focused vehicle.
- Various companies announce deals, including Investree’s rescue plan, xalts’ acquisition of Contour, Thryve.Earth’s seed funding, Startale Labs’ funding round, and VinCSS’s Series B funding round plans.
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